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MYOB Online Course Videos — MYOB Sales — Changing Payment Terms

When you originally entered your company into MYOB you will have created ‘Terms of Payment’. These can be easily changed in MYOB if you want to.

To do so, just open the required invoice on your screen and click on the white arrow next to ‘Terms’. The Credit Terms window will be displayed. The most important field is the ‘Payment Due’ field as this is the one that you may need to change the most. MYOB gives you a number of choices, from COD to Day of Month after EOM (End of Month).

If you select In a Given # of Days, tab to Balance Due field and simply type the number of days for payment: examples 7, 14, 28.

Here you can also give discounts for early payment or perhaps a penalty for late payment.

When new information has been entered, click ‘ok’ and you will see the change of terms on your invoice.

502106 changing payment terms in MYOB
502106 changing payment terms in MYOB

Video Reference: 502106

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